Daniel Fasnacht Book order

Exploring digital disruption, this book highlights the significance of open and digital ecosystems, projected to account for one-third of global trade by 2030. It emphasizes consumer-centric value creation across organizational boundaries and the impact of converging industries and technologies on customer experiences. Key innovations like Artificial Intelligence, Augmented Reality, and Blockchain are presented as essential for driving digital transformation. The interplay of commerce, social media, and finance is illustrated through the strategies of major companies like Alibaba and Amazon, showcasing their unique customer engagement methods.

Focusing on the evolution of business models in the financial services sector, the book examines the last two decades, highlighting key events like the subprime crisis. It emphasizes the critical shift from traditional, closed operational models to open innovation, showcasing how this transition has reshaped the industry. Through detailed analysis, it provides insights into the implications and opportunities presented by open business models in today's financial landscape.

Open innovation involves sourcing new ideas from outside organizational boundaries, fostering collaboration to develop solutions for client needs, and distributing products through a flexible network of partners. This book, the first of its kind, explores open business models specifically within the financial services sector. It highlights key drivers for strategic change, such as sophisticated clients and demanding shareholders, alongside trends like the global financial crisis. The author explains the necessity of transitioning from a closed operational model to one embracing open innovation. Through various case studies, the text illustrates the integration of clients into the innovation process, emphasizing smart client segmentation and a holistic advisory model to serve a global clientele. Leaders are urged to adopt new management practices to invest in diverse strategic directions, ensuring clients receive exceptional experiences and fostering social relationship capital through an open innovation culture. This work provides a vital framework for understanding banking industry dynamics and leveraging organizational energy to achieve sustainable growth. It arrives at a crucial moment, offering a fresh perspective on business expansion strategies, particularly in challenging times.